If you're looking to have a plan in place for the future, you may want to consider investing in estate planning. This makes it possible for you to have more control and have a plan in place in case the unexpected happens. While there are many powerful documents and tools that you can use to achieve your goals, there are some that are more essential than others. Take a look at the following information to better understand some of the most powerful estate planning tools that you can use to plan for your future.
Will
A will is one of the most important planning documents that you can utilize. You can use this document to outline a guardian for your minor children, decide how your assets will be distributed to your loved ones and trusted friends, and name an executor, who will handle your estate affairs. If you don't have an estate plan in place, set laws will determine how your affairs are handled. An estate lawyer can help you create this document so that your wishes are respected after your death.
Financial Power of Attorney
If you're ever terminally ill, you won't be able to handle your financial affairs as you normally have before. With the use of estate planning, you can create a financial power of attorney document. This tool lets you choose a trusted loved one to continue paying bills, manage your money, and make important investment decisions on your behalf. You never know when an emergency may occur, so it's important to have this tool in place.
Medical Power of Attorney
During a serious medical situation in which you're terminally ill, you will also have many health care needs. You want to make sure that you have a trusted individual on your side so that your health decisions are in good hands. With a medical power of attorney, you can choose someone to talk to medical professionals, make important medical decisions, and get you the best health care possible. This will ensure that you get the care that you deserve.
These are some of the most important planning documents that you can utilize when handling your estate affairs. Contact a wills lawyer such as those at Kasman Sheldon L & Associate LLP today so that you can learn more about your planning options. If you're nervous about the product, your lawyer will be able to walk you throughout the process so that you feel less upset and stressed when dealing with challenging topics such as illness and death.
Share20 September 2014
Many people assume that when they file Chapter 7 bankruptcy, they will have to give up their homes and other property. This is not necessarily the case. I am a bankruptcy attorney, and I have helped many clients file for Chapter 7 bankruptcy without giving up homes, cars, and other property. When you file for bankruptcy, the property you are allowed to keep depends on your individual circumstances and the state where you live. Most states allow exemption for property you are currently paying for. This blog will guide you through that information and help you determine if filing Chapter 7 bankruptcy is the right choice for you.
